OTTAWA, June 08, 2017 (GLOBE NEWSWIRE) -- BetterU Education Corp. (TSX-V:BTRU) (FRANKFURT:5OGA), (the "Company" or "betterU") announces that the Corporation was cease traded by the BC Securities Commission (the “Commission”) on June 5, 2017 as a result of not filing periodic financial statements for the period ended March 31, 2017 on time, in part because the Corporation had decided to change its year end from December 31 to March 31. After discussions with the Commission, it was determined that it was an administrative error on the part of the Corporation and the Notice of Change of Year End was refiled as of June 6, 2017 and subsequently the BC Securities Commission lifted the cease trading order.
After a TSX Venture Exchange reinstatement review was completed, the Company was advised that effective at the market opening, Friday, June 9, 2017, the shares of the Company will be reinstated to trade.
The rational for the change in the financial year end from December 31st to March 31st was made by the Company, in order to align the fiscal year periods of the parent and its subsidiaries, in particular its Indian subsidiary which has a March 31 legislated year-end date.
About betterU
betterU, an online education technology company, aims to provide access to quality education from around the world in order to foster growth and opportunity to those who want to better their lives. The Company plans to bridge the prevailing gap in the education and job industry and enhance the lives of its prospective learners by developing an integrated ecosystem. betterU’s offerings can be categorized into four broad functions: to compliment school programs with flexible KG-12 programs preparing children for their next stage of education, to foster an exceptional educational environment by providing befitting skills that lead to a better career, to bridge the gap between one’s existing education and prospective job requirement by training them and lastly, to connect the end user to various job opportunities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
betterU cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, betterU's forward-looking statements due to the risks and uncertainties inherent in betterU's business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. betterU does not assume any obligation to update any forward-looking statements except as required by law.